This study aims to measure the impact of public investment on inclusive growth in Egypt during the period (1991–2023), in light of the profound economic and structural transformations the country has undergone within the framework of economic reform programs. The study focuses on analyzing the relationship between the volume of public investment expenditure and indicators of inclusive growth, such as employment rates, GDP per capita, and productivity, using an econometric model based on annual data throughout the study period. The study employs the Autoregressive Distributed Lag (ARDL) model to examine the existence of both long-term and short-term relationships between public investment and inclusive growth. The findings reveal a significant positive relationship in the long run, where an increase in public investment contributes to improved employment levels, higher income, and greater economic equity. Moreover, the results show that the effectiveness of this impact varies over time: the influence of investment spending declined during periods of fiscal austerity and became more evident during times of economic expansion and relative stability. The study recommends redirecting public investment toward sectors with high potential for job creation and social equity, while enhancing the efficiency of public investment management to achieve sustainable and inclusive economic growth.